EOS (EOS) Price Boosted Ahead of June 1 Announcement

EOS (EOS) saw its market price line up as the biggest daily winner among top coins. EOS reawakened, trading at $7.81 as of 7:00 UTC on Tuesday. The current spike happened on absolute record volumes above $5.3 billion in 24 hours, achieving a daily peak late on Monday at $8.09. EOS is still below the $12-$14 range normally seen during the token sale phase, and so far fails to break the $30 price barrier.

Meanwhile, Block.one prepares the ground for its community announcement over the weekend during an EOS-themed event in Washington:

So far, EOS has managed to become one of the busiest ecosystems, though going through significant glitches and setbacks in attempting to build consensus. The EOS network is non-immutable, and governance allows users to ask for rolling back transactions.

Ahead of the announcement, an EOS explorer showed Block.one locked in a significant RAM resource on the network.

Before the purchase, Block.one also unlocked 9.8 million EOS tokens, buying up $25 million’s worth of RAM.

EOS is the asset that soaks up the third largest inflows from Bitcoin (BTC) markets, and significant activity against Ethereum (ETH). In the past few days, new evidence surfaced, potentially linking the Block.one token sale wallet to market interventions. The EOS market price has behaved in an extremely stable manner even during the bear market, suggesting at least some form of concerted efforts to boost the market.

EOS also remains the most active network, achieving more than 87 million transactions in 24 hours, based on Blocktivity data. It must be noted EOS transactions are free, and network participants can generate traffic without much investment. On a regular day, the EOS network carries around 16 million transactions, including both usage as a coin and as an asset for distributed apps.

Based on DappRadar data, EOS applications see less than 100,000 transactions per week, raising the question where the millions of transactions are coming from.

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